Econometrica: Jul 1994, Volume 62, Issue 4
A Noncooperative View of Coalition Formation and the Core
Motty Perry, Philip J. RenyA noncooperative implementation of the core is provided for games with transferable utility. The implementation obtained here is meant to reflect the standard motivation for the core as closely as possible. In the model proposed, time is continuous. This idealized treatment of time ensures that there is always time to reject a noncore proposal before it is consumated.
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